Looking to diversify beyond ETEGX? The mutual funds below have the lowest correlation with ETEGX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from ETEGX.
Best Diversifiers for ETEGX
4 mutual funds have low correlation with ETEGX (below 0.3), 0 of which are negatively correlated. The least correlated is Eaton Vance Global Macro Absolute Return Advantage Fund (EGRIX) (Nontraditional Bonds) with a 1Y correlation of 0.16, roughly unchanged from 0.12 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Eaton Vance Global Macro Absolute Return Advantage... | 0.16 | 0.20 | 0.12 | 98 | Nontraditional Bonds | ETEGX vs EGRIX | |
| Federated Hermes MDT Small Cap Growth Fund | 0.16 | 0.53 | 0.71 | 72 | Small Cap Growth Equities | ETEGX vs QISGX | |
| Eaton Vance Massachusetts Municipal Income Fund | 0.20 | 0.14 | 0.11 | 71 | Municipal Bonds | ETEGX vs EIMAX | |
| Eaton Vance Emerging Markets Debt Opportunities Fu... | 0.28 | 0.25 | 0.28 | 98 | Emerging Markets Bonds | ETEGX vs EELDX | |
| Eaton Vance Multi-Asset Credit Fund | 0.39 | 0.40 | 0.41 | 87 | High Yield Bonds | ETEGX vs EIAMX |
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